Join Phil Risher, the founder of Phlash Consulting and a recognized figure in Forbes and CNBC, as he shares his inspiring journey from living in his parents' basement to establishing a debt-free seven-figure business. He reveals practical strategies for starting a business with zero upfront costs, emphasizing the importance of client acquisition and leveraging free marketing. Phil also discusses essential cash flow management techniques, budgeting frameworks, and networking tips that propelled his growth, proving that grit and resourcefulness are key to success.
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volunteer_activism ADVICE
Debt-Free Start
Start a service-based business to minimize startup costs, focusing on your expertise.
Land clients before investing in marketing or equipment.
question_answer ANECDOTE
First Client
Phil Risher's first client was his former employer, who then referred him to two others.
This allowed him to transition with immediate income and minimal risk.
volunteer_activism ADVICE
Customers First
Prioritize acquiring customers before branding or website creation.
Focus on delivering value and building a client base first.
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How to Get As Many Clients, Customers and Sales As You Can Possibly Handle
Sabri Suby
Sell Like Crazy by Sabri Suby provides an 8-phase selling system to generate leads and sales for any business. The book focuses on identifying the ideal customer, creating compelling offers, and leveraging various marketing channels to drive sales. It emphasizes actionable strategies for rapid business growth.
I will teach you to be rich
Ramit Sethi
This book, updated for a new era, provides a simple and powerful 6-week program to manage finances. Ramit Sethi focuses on behavioral psychology to help readers save more, earn more, and automate their finances. Key lessons include focusing on big wins rather than small savings, automating financial tasks, and spending guilt-free on things you love while cutting back on unnecessary expenses. The book also covers topics like crushing debt, setting up high-interest bank accounts, and long-term investing in index funds.
Extreme ownership
How U.S. Navy SEALs Lead and Win
Leif Babin
Jocko Willink
This book by Jocko Willink and Leif Babin focuses on the principle of 'Extreme Ownership,' where leaders take full responsibility for their actions and decisions. The authors use their experiences in the U.S. Navy SEALs to illustrate how this mindset can lead to success in any organization. The book covers various principles such as believing in the mission, checking ego, and leading by example. It emphasizes that leaders must own all failures, develop plans to overcome them, and ensure their teams are well-conditioned and aligned with the mission. The authors also stress the importance of humility, discipline, and effective communication in leadership[1][2][4].
Profit First
Transform Your Business from a Cash-Eating Monster to a Money-Making Machine
Mike Michalowicz
In 'Profit First', Mike Michalowicz introduces a behavioral approach to accounting that flips the conventional formula from 'Sales - Expenses = Profit' to 'Sales - Profit = Expenses'. This system involves taking a predetermined percentage of sales as profit first and then allocating the remainder for expenses. The book provides practical, step-by-step advice and case studies to help entrepreneurs manage their businesses more effectively, ensuring early and sustained profitability and long-term growth.
Phil Risher started his digital marketing company while living in his dad’s basement & $30,000 deep in student debt. Now, Phlash Consulting has grown into a thriving seven-figure company and earned Phil features in major publications such as Forbes, CNBC, and Business Insider for his debt-free business approach.
In this interview, Phil shares his battle-tested blueprint for starting a digital marketing agency with a $0 upfront cost. Including how to land your first client, leverage free marketing strategies like niche content creation and networking, and master cash flow discipline to ensure profitability. His story proves you don’t need deep pockets to succeed—just grit and resourcefulness.
Key Takeaways:
Starting a business debt-free is possible with the right approach.
Focus on acquiring clients before investing in marketing.
Service-based businesses are ideal for debt-free startups.
Content creation can be a low-cost way to generate leads.
Managing cash flow is crucial for profitability.
Utilizing a budgeting framework helps in financial planning.
Networking is key to finding your first customers.
Building a productized service can help scale your business.
Invest in good team members to grow your business.
Ready to be your own boss without starting from scratch? Grab our FREE Franchise Guide and unlock the secrets of proven business models that have already created thousands of success stories.
For more insights to start, build, or grow a business, check out the resources on UpFlip.com or head to the UpFlip YouTube channel to see more interviews with business owners and experts.
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